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ACC 561 Final Exam




1). The statement of cash flows is used for _____.;2) Nonoperatin items on the income statement _____.;3) The difference between a single-step and multiple-step income statement is that a single-step income statement _____. ACC 561 final exam;4) Which one of the following statements is true?;5) The _____ accounting convention uses the acquisition cost minus depreciation in valuing an asset on the balance sheet.;6) A new corporation issuing a common, no-par value stock for cash would include a journal entry a debit to _____. ACC 561 final exam ACC 561 final exam;7) Which type of organization would most likely have work-in-process inventory?;8) _____ is a measure of income or profit divided by the investment required to obtain that income or profit.;9) The following information is available for the Peter Company;Sales: $150,000;Invested capital: $156,250;ROI: 10%;The return on sales is _____.;10) The following information is available for the Peter Company;Sales: $500,000;Invested capital: $312,500;ROI: 10%;The return on sales is _____.;11) Company A?s revenues are $300 on invested capital of $240. Expenses are currently 70% of sales. If Angelo Company can reduce its capital investment by 20% in Company A, return on investment will be _____. ACC 561 final exam;12) When the variable costing method is used, fixed factory overhead appears on the income statement as a _____. ACC 561 final exam;13) In absorption costing, costs are separated into the major categories of _____.;14) _____ is another term for variable costing.;15) Budgeted service department cost rates protects the user departments from _____.;16) _____ is an example of the external financial-reporting purpose of the cost management systems. ACC 561 final exam;17) The level of sales at which revenues equal expenses and net income is zero is called the _____.;18) Output measures of both resources and activities are _____.;19) The break-even point is where _____.;20) _____ budgeting is when budgets are formulated with the active participation of all affected employees. ACC 561 final exam;21) _____ is the logical integration of management accounting tools to gather and report data and to evaluate performance.;22) _____ are components of a master budget.;23) An important factor considered by sales forecasters is _____. ACC 561 final exam;24) _____ models are mathematical models of the master budget that can react to any set of assumptions about sales, costs, and product mix.;25) Which of the following is an objective of budgeting?;26) An organization's budget program should be used ACC 561 ACC561 Final Exam;27) The activity-based costing may reveal _________, whereas traditional costing cannot.;28) _____ is a method of approximating cost functions. ACC 561 final exam;29) In relation to a cost function, the term reliability refers to _____.;30) One of the simplest methods to measure a linear cost function from past data is the _____.


Paper#73919 | Written in 18-Jul-2015

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